Meridian drills 7.2 m of 1.4 g/t Au at Santa Helena

• Meridian Mining PLC reported drill results from its Santa Helena project, highlighting hole CD-869 which intercepted 7.2 m of 1.4 g/t Au, 24.3 g/t Ag, 2.3% Zn, and 0.9% Pb.
• This intercept marks the first appearance of visible gold at Santa Helena and is interpreted as the downdip extension of the Santa Helena North chargeability anomaly.
• Additional infill drilling at Santa Helena Central returned multiple high-grade intersections (e.g., CD-866: 15.4 m @ 0.7 g/t Au, 5.1% Zn; CD-861: 12.0 m @ 0.8 g/t Au, 4.9% Zn).
• The company commenced field evaluations for the Espigao Cu-Au targets and secured environmental permission (SEDAM) for upcoming reconnaissance drilling.
• The release references the March 2025 PFS for the flagship Cabacal project, citing a $984M NPV, 61.2% IRR, and $742/oz AISC.

• The discovery of a second VMS layer and visible gold at Santa Helena is geologically significant, reinforcing the high prospectivity of the Cabacal belt and supporting the company's hub-and-spoke development strategy.
• However, this update is part of a well-funded, ongoing exploration program that has already delivered consistent high-grade results throughout 2025 and early 2026. The market has largely priced in the Santa Helena resource potential following the January 2026 maiden resource declaration and subsequent drill campaigns.
• The news does not alter the immediate capital requirements, DFS timeline, or permitting roadmap for the Cabacal flagship project. It serves as a positive validation of the exploration thesis rather than a fundamental shift in project economics or execution risk.
• The announcement is incremental to the broader development milestones and aligns with management's stated exploration targets.

• Meridian Mining PLC is a pre-revenue junior explorer advancing the Cabacal Au-Cu-Ag VMS project in Mato Grosso, Brazil.
• Flagship Project: Cabacal. The Preliminary Feasibility Study (PFS) completed in March 2025 outlines a 10.6-year mine life, producing 141,000 oz AuEq annually. Key metrics include a $984M post-tax NPV, 61.2% IRR, $248M pre-production capex, and $742/oz AISC.
• Secondary Asset: Santa Helena Central. A maiden M&I resource of 5.3 Mt was declared in January 2026. Ongoing drilling aims to expand this resource and support a potential second operational hub.
• Strategy: The company employs a hub-and-spoke model along a 50 km VMS belt, targeting regional exploration in the Jauru and Araputanga greenstone belts and the Espigao IOCG prospect.